402 institutions hold shares in TEGNA Inc. (TGNA), with 936.16k shares held by insiders accounting for 0.43% while institutional investors hold 92.34% of the company’s shares. The shares outstanding are 219.58M, and float is at 218.29M with Short Float at 2.93%. Institutions hold 91.95% of the Float.
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The top institutional shareholder in the company is Blackrock Inc. with over 24.62 million shares valued at $343.46 million. The investor’s holdings represent 11.23% of the TGNA Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 20.74 million shares valued at $289.27 million to account for 9.46% of the shares outstanding. The other top investors are Standard General L.P. which holds 16.92 million shares representing 7.72% and valued at over $236.05 million, while State Street Corporation holds 4.53% of the shares totaling 9.94 million with a market value of $138.63 million.
TEGNA Inc. (NYSE: TGNA) is 35.41% higher on its value in year-to-date trading and has touched a low of $9.61 and a high of $18.57 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TGNA stock was last observed hovering at around $18.42 in the last trading session, with the day’s gains setting it 0.47% off its average median price target of $19.00 for the next 12 months. It is also 6.49% off the consensus price target high of $20.20 offered by 9 analysts, but current levels are -18.06% lower than the price target low of $16.00 for the same period.
Currently trading at $18.89, the stock is 10.91% and 21.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.05 million and changing 2.55% at the moment leaves the stock 45.37% off its SMA200. TGNA registered 12.64% gain for a year compared to 6-month gain of 52.34%. The firm has a 50-day simple moving average (SMA 50) of $16.33 and a 200-day simple moving average (SMA200) of $13.78.
The stock witnessed a 20.09% loss in the last 1 month and extending the period to 3 months gives it a 34.83%, and is 7.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.81% over the week and 3.09% over the month.
TEGNA Inc. (TGNA) has around 6883 employees, a market worth around $4.10B and $2.69B in sales. Current P/E ratio is 12.84 and Fwd P/E is 10.70. Profit margin for the company is 12.00%. Distance from 52-week low is 96.57% and 1.72% from its 52-week high. The company has generated returns on investments over the last 12 months (8.10%).
TEGNA Inc. (TGNA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for TEGNA Inc. (TGNA) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 2.00, where 3 rate it as a Hold and 1 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
TEGNA Inc. is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $1.12 with sales reaching $927.67M over the same period.The EPS is expected to shrink by -28.90% this year, but quarterly earnings will post 27.30% year-over-year. Quarterly sales are estimated to grow 33.70% in year-over-year returns.
TEGNA Inc. (TGNA) Insider Activity
A total of 14 insider transactions have happened at TEGNA Inc. (TGNA) in the last six months, with sales accounting for 6 and purchases happening 8 times.
TEGNA Inc. (TGNA): Who are the competitors?
The company’s main competitors (and peers) include A.H. Belo Corporation (AHC) that is trading -18.28% down over the past 12 months. Daily Journal Corporation (DJCO) is 19.25% up on the 1-year trading charts. Short interest in the company’s stock has risen 11.72% from the last report on Dec 30, 2020 to stand at a total of 5.65 million short shares sold with a short interest ratio of 3.99.